Mediolanum International Funds Ltd Increases Stock Holdings in U.S. Bancorp $USB

Key Points

• Mediolanum International Funds Ltd boosted its stake in U.S. Bancorp by 21.1% in the first quarter, adding 78,338 shares and bringing its total holding to 449,042 shares worth about $22.85 million.
• U.S. Bancorp reported better-than-expected Q2 results, with EPS of $1.35 and revenue of $7.71 billion, both above analyst estimates. The company also raised its full-year revenue outlook to 7% to 9% growth.
• Analysts have turned more positive after the earnings beat, with several firms lifting price targets and the stock carrying a Moderate Buy consensus rating and an average target of $66.52.

Mediolanum International Funds Ltd increased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 21.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 449,042 shares of the financial services provider's stock after buying an additional 78,338 shares during the quarter. Mediolanum International Funds Ltd's holdings in U.S. Bancorp were worth $22,847,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clayton Financial Group LLC purchased a new position in U.S. Bancorp during the fourth quarter worth about $25,000. Financial Life Planners bought a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $27,000. Main Street Group LTD purchased a new position in shares of U.S. Bancorp in the 1st quarter worth approximately $28,000. Rossby Financial LCC boosted its stake in shares of U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider's stock worth $31,000 after buying an additional 212 shares during the last quarter. Finally, NFSG Corp bought a new position in shares of U.S. Bancorp in the first quarter valued at approximately $31,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the company's stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the transaction, the insider owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Raymond James Financial began coverage on U.S. Bancorp in a research report on Wednesday, July 8th. They issued a "strong-buy" rating and a $72.00 price objective on the stock. UBS Group lifted their target price on U.S. Bancorp from $58.00 to $66.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 7th. Weiss Ratings raised shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Oppenheimer increased their price target on shares of U.S. Bancorp from $73.00 to $77.00 and gave the company an "outperform" rating in a research report on Friday. Finally, DA Davidson increased their target price on shares of U.S. Bancorp from $72.00 to $74.00 and gave the company a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $66.52.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $63.14 on Friday. The company has a 50 day moving average of $57.89 and a 200 day moving average of $56.08. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. The stock has a market cap of $97.93 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.08 and a beta of 0.96. U.S. Bancorp has a 12 month low of $43.46 and a 12 month high of $64.84.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The business had revenue of $7.71 billion for the quarter, compared to analysts' expectations of $7.58 billion. During the same period in the prior year, the company posted $1.11 EPS. As a group, sell-side analysts forecast that U.S. Bancorp will post 5.18 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is 43.61%.

Key Headlines Impacting U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp posted Q2 earnings of $1.35 per share on revenue of $7.71 billion, both above estimates, with record quarterly revenue driven by loan growth, fee income, and a boost from its BTIG acquisition. U.S. Bancorp Q2 Earnings Beat Estimates on NII & Fee Revenue Growth
• Positive Sentiment: Management raised full-year revenue guidance to a 7% to 9% growth range, signaling confidence that momentum from higher net interest income and fee revenue will continue. Is USB’s Stronger Outlook And BTIG Fee Push Altering The Investment Case For U.S. Bancorp (USB)?
• Positive Sentiment: Several firms lifted price targets after the earnings release, including Oppenheimer, Wells Fargo, Truist, RBC, and Baird, reflecting improved sentiment around USB’s outlook. US Bancorp analysts boost their forecasts after upbeat Q2 results

U.S. Bancorp Profile

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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